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About Economic Growth DC

March 13, 2013

Welcome to the online home of the DC Economic Growth Action Fund, also known as Economic Growth DC. We are a non-profit incorporated in the District of Columbia under Title 29, Chapter 4 of the DC code. We are organized within the meaning of section 501(c)(4) of the Internal Revenue Code as a social welfare organization dedicated to promoting the common good and the general welfare of the residents of the District of Columbia through a robust and dynamic economy.

Economic Growth DC intends to facilitate the conditions that create such an economy by engaging primarily in three activities: 1) Advocating before all elements of the government of the District of Columbia on behalf of legislation and regulations that enhance economic growth; 2) Supporting local and neighborhood business associations, business improvement districts, economic development corporations, civic associations and other civic groups dedicated to establishing and maintaining an environment conducive to robust economic growth; and 3) Supporting pro-growth candidates for elective office in the District of Columbia.

Our mission is to catalyze an acceleration in the rate of growth of the economy of the District of Columbia and ensure its permanence. Put more simply, we want to make the District’s economy grow faster, higher and stronger. We will also strive to make the District a better and easier place to do business. A place where existing businesses would like to relocate to so that they might take advantage of the most highly educated population in the U.S., and where entrepreneurs would like to come to start new businesses.

The District’s economy grew at an average rate of 2.198% from 2002 to 2011. The figures for 2012 will be released by the Bureau of Economic Analysis in June of 2013. The District has a number of spending priorities from affordable housing to Medicaid to its education system. To fully fund these priorities, economic growth must accelerate. In addition, the District derives over 35% of its gross state product from government spending. The national average is 12%.

Economic Growth DC believes that the District of Columbia has two economic imperatives: a) to accelerate the rate of growth of the District’s economy into the 5% range and keep it there; and b) grow the private sector portion of our economy fast enough so that the percentage of our state domestic product derived from government spending drops to under 17% by 2023. Economic Growth DC exists to promote policies that accomplish these goals. Our other goals include a 100% high school graduation rate, an unemployment rate of less than 5% in all eight wards, and statehood for the District.

From → General

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